It is not uncommon for people to have debt. Since the advent of the charge card in the 1950s, Americans have been charging more and more. There are over 641 million credit cards in circulation, accounting for approximately $1.5 trillion of consumer spending; clearly the American public enjoys the convenience of credit cards. But convenience […]

By, Credit card debt is increasing everyday in the U.S. with consumer borrowing increasing significantly in May 2007, the biggest rise in six months. The Federal Reserve Bank stated this Monday that consumer credit climbed at an annual rate of 6.4 percent in May. This rise in consumer credit is enormous since the 1.1 percent […]

The housing market after half a decade of boom came down with a thump last year. The increasing delinquencies on mortgage loans, especially subprime mortgage loans have been at epidemic proportions. Unfortunately, the home equity line of credit loans has not escaped this legacy of defaulting home loan mortgages. The latest news shows that late […]

Debt Relief through Consolidation and Repair Behind just about every mountain of debt is a pile of credit cards! Having a good credit report is essential in the world we live in. Credit helps us with some of the bigger things we wish to buy such as a home, car, vacation or other significant purchases. […]

After a long day at the office, the last thing you want to come home to is an endless amount of debt collection messages! Unfortunately, that’s exactly the kind of thing most people who are in debt experience on a daily basis. If you are someone who is suffering from a mountain of debt, perhaps […]

A proposed bipartisan bill aimed at amending the tax code so that debt forgiveness relating to principal home mortgages is no longer treated as income will soon be working its way through the U.S. Congress. Currently, homeowners who are substantially delinquent on their mortgages face harsh IRS consequences: If their lender accepts to modify their […]

The new and growing practice of paying internet-based companies to repair a poor credit rating is being viewed with suspicion and concern by the feds and the mortgage industry. Federal regulators are keeping a close eye on this new trend, whereby online companies like Instantcreditbuilders.com (ICB) offer customers the opportunity to bump up their credit […]

Consumers hoping for continued low mortgage rates were disappointed when Freddie Mac’s Primary Mortgage Market Survey recently revealed the opposite. On a brighter note, just one year ago rates moved into the high 6.80 percent range during the three month spring and summer period, but turned around and achieved a long-term run in the 6.06-6.20 […]

The specter of the subprime mortgagesector upon the economy continues to dominate the news.  Many investors are worried about the effects on the economy of the downward spiral of these types of loans. Still the uncertainty has not produced a recession, but according to some analysts one may be on the horizon this summer.  Historically […]

The average American mortgagor spends hundreds, if not thousands of dollars each month on a mortgage. Using a credit card to pay off a mortgage was an inconceivable and farfetched notion, until now. American Express has just ushered in a new concept that is bound to revolutionize the mortgage and credit card industries. It plans […]